My Mother's Money: Beth Pinsker on Finances and End of Life

 If we’re lucky, we’ll all be old someday. America is gradually getting older. According to the US government, since 2001, the national median age has risen from 35.6 to 39.4. And yes, while we complain about boomers, it has to be said that attempting to retire in an economy where gas is close to $5 a gallon and a 12-pack of Diet Coke is $12 (highway robbery). According to a study by Allianz, baby boomers are the wealthiest generation to have ever lived, and account for 51.8% of the country’s total wealth. 

As these boomers age and – let’s say it – die – the wealth they pass down to their children and grandchildren is going to be anywhere from 68-84 trillion dollars…and unprecedented amount of money that many are calling The Great Wealth Transfer. And if that happens for some people, cool! But obviously not every boomer is rich, and many of them are passing down more generational trauma than generational wealth. 

In this episode of Thanks for Asking, Nora is talking to Beth Pinsker, a Certified Financial Planner and author of My Mother’s Money: A Guide to Financial Caregiving. They’re talking about finances, debt, and managing money for aging parents – something that is never easy but many of us deal with in silence. So today, we’re talking about it.

Beth’s book is available on Bookshop, Amazon or wherever you buy books. 

If you’re interested in more episodes we’ve done on finances, check them out:

It’s romantic to get a prenup (and other financial lessons for divorce)

Debt, Lies, and Other Things Our Parents Leave Us

Behind The Scammer

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